Idea Cycle

Idea Cycle provides the commercialization infrastructure necessary to effectively mine, assess, protect and develop novel life science product ideas in West Michigan. The program focuses on the accelerating the most promising concepts through early stage development for strategically designed exit through license, partnership or spin-out.

Idea Cycle applies the traditional "corporate" new product development and commercialization process to new and emerging ideas within the regional community of health care providers and educators.

Idea assessment and selection is the first component of the Idea Cycle process, called the Innovation Pipeline. The assessment is based on criteria in four categories: technical viability, financial viability, commercial viability and community/corporate drivers. For products determined to have a high commercial value, the Initiative works with Idea Cycle partner organizations to create a commercialization roadmap to define critical milestones of development. The roadmap is also used to create a detailed project management plan.

Idea Cycle Process Model
Idea Cycle Process Model
To date: Idea Cycle organizations have collectively reviewed more than 390 ideas, and successfully managed 28 through the various stages of product development. More than 25 patents have been applied for, and six have been licensed, with royalty return on one.